Exports Jump To $32.21 Billion In May; Trade Deficit At $6.32 Billion

India’s exports grew by 67.39 per cent to $32.21 billion in May pushed by wholesome progress in sectors akin to engineering, prescription drugs, petroleum merchandise and chemical compounds, in accordance authorities knowledge launched on Wednesday.

Exports in May final 12 months stood at $19.24 billion and in May 2019 it was at $29.85 billion, the commerce ministry’s preliminary knowledge confirmed.

Imports in May rose by 68.54 per cent to $38.53 billion, from $22.86 billion in May 2020. In May 2019, imports stood at $46.68 billion.

“India is thus a web importer in May 2021 with a commerce deficit of $6.32 billion, a rise of 74.69 per cent over commerce deficit $3.62 billion in May 2020 and discount by 62.49 per cent over commerce deficit $16.84 billion in May 2019,” the ministry mentioned.

Oil imports in the course of the month beneath assessment rose to $9.45 billion, as in comparison with $3.57 billion in May 2020. In May 2019, it stood at $12.59 billion.

Exports throughout Apr-May this 12 months jumped to $62.84 billion, as in opposition to $29.6 billion in the identical interval final 12 months. It was $55.88 billion in Apr-May 2019, the information confirmed.

Imports throughout Apr-May 2021 was $84.25 billion, a rise from $39.98 billion in April-May 2020. In Apr-May 2019 it stood at $89.07 billion.

In Apr-May 2021, oil imports aggregated at $20.32 billion from $8.24 billion in Apr-May 2020. In Apr-May 2019 it was $24.16 billion.

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